Finance Minister Arun Jaitley through an amendment to tax proposals in the Finance Bill for 2017-18 had made Aadhaar mandatory for filing income tax returns and provided for linking of PAN with Aadhaar to check tax evasion through use of multiple PAN cards.

Based on its balance sheet and its total debt, our view is that it is better for the government to spend money on health, education and nutrition rather than on an airline that captures only 14 percent of market share.

From fast tracking resolutions against loan defaulters under the Insolvency and Bankruptcy Code to Aadhaar's importance in banking, from here's the weekly wrap of what all happened in the banking sector this week.

Existing bank account holders have been asked to furnish the Aadhaar number issued by the Unique Identification Authority of India (UIDAI) by December 31, 2017, failing which the account will cease to be operational, according to a revenue department notification.

However, the apex court upheld the validity of Section 139AA of the I-T Act, subject to the outcome of the batch of petitions before its Constitution bench which is examining if the Aadhaar scheme infringes on the Right to Privacy and if there is threat of data leakage.

A bench comprising Justices A K Sikri and Ashok Bhushan had on May 4 reserved the verdict on the pleas, challenging section 139AA of the Income Tax (I-T) Act, which was introduced through the latest budget and the Finance Act, 2017.

The bench of Justices A K Sikri and Ashok Bhushan had on May 4 reserved the verdict on the pleas, challenging section 139AA of the Income Tax (I-T) Act, which was introduced through the latest budget and the Finance Act, 2017, reports PTI.